Timothy Sumer

What is a Roth conversion and why should you consider it? The ultimate goal is a tax-free retirement. All qualified Roth distributions are free of taxes. Of course, retirement funds can't escape the tax man altogether, so when you convert traditional, pretax funds to Roth, you will owe taxes. On this episode of Adam Live, IRA Financial founder, Adam Bergman, Esq. will discuss what a Roth conversion is, how to perform one, and the rules you need to be aware of. He will also explain why and when you should consider doing one. Join us LIVE on Thursday, September 21st at 1:00PM EDT! *please note the date change* -- Learn more: -- About IRA Financial: IRA Financial Group was founded by Adam Bergman, a former tax and ERISA attorney who worked at some of the largest law firms. During his years of practice, he noticed that many of his clients were not even aware that they can use an IRA or 401(k) plan to make alternative asset investments, such as real estate. He created I...

Colin Day, CFP, EA, MBA is taking us on a journey through financial planning. In today’s video we’re discussing the back door Roth strategy. For some, your income might exceed the limit to allow you to contribute to a Roth IRA. While some might give up on their ability to contribute to a Roth IRA, others might try the back door Roth conversion, which allows you to get money into the Roth while exceeding the annual income limit. To do so, you contribute money to a Traditional IRA on a non-deductible basis and then move those dollars into the Roth IRA through a process known as a “conversion.” While this can be a great strategy to get money into a Roth, there are many reasons why you’ll want to pause before considering using it. Watch this video and others to get the financial education you deserve! Get in touch: About Correct Capital Wealth Management: As life becomes complex, having someone you trust to ensure that you are making all the right financial moves is i...

Biden is spending money and someone has to pay for it. Investors and Retirement Plan Sponsors here is what the strategy is. See this video for technical advice on the conversion: "After-Tax Bucket"... ( read more ) LEARN MORE ABOUT: IRA Accounts CONVERT IRA TO GOLD: Gold IRA Account CONVERT IRA TO SILVER: Silver IRA Account REVEALED: Best Gold Backed IRA What is a Mega Backdoor Roth? When it comes to retirement planning and securing a financially stable future, Roth IRAs are considered one of the best options available. However, contributions to Roth IRAs are limited to $6,000 per year for individuals under the age of 50, and $7,000 for those over 50 years old. But what if you want to save more money for retirement in a tax-advantaged account? This is where the concept of a Mega Backdoor Roth comes into play. A Mega Backdoor Roth is a strategy that allows individuals to contribute significantly more to their Roth IRAs each year, by ...

... ( read more ) LEARN MORE ABOUT: IRA Accounts INVESTING IN A GOLD IRA: Gold IRA Account INVESTING IN A SILVER IRA: Silver IRA Account REVEALED: Best Gold Backed IRA If you have a Traditional Individual retirement account (IRA) with a balance of $50,000, it is essential to understand how your funds are taxed. Traditional IRAs offer tax advantages during contributions and withdrawals, and knowing the tax implications can help you plan for your retirement effectively. Contributions to a Traditional IRA are typically tax-deductible in the year they are made. This means that if you contributed $50,000 to your Traditional IRA over the years, you likely received a tax deduction or reduced taxable income for that amount during the time of the contribution. This upfront tax advantage is one of the primary reasons individuals opt for Traditional IRAs. However, the funds within a Traditional IRA grow tax-deferred rather than tax-free. This means that while t...

Vanguard Financial Advisor Jessica McBride discusses the pros and cons of converting a traditional IRA to a Roth IRA during market uncertainty. You can learn more about market volatility here: ... ( read more ) LEARN MORE ABOUT: IRA Accounts INVESTING IN A GOLD IRA: Gold IRA Account INVESTING IN A SILVER IRA: Silver IRA Account REVEALED: Best Gold Backed IRA Roth Conversions and Volatility: An Ideal Strategy for retirement planning When it comes to retirement planning , Roth conversions have gained popularity due to their potential tax advantages. A Roth conversion refers to moving assets from a traditional individual retirement account (IRA) to a Roth IRA. The main benefit of this strategy is that it allows retirees to convert their retirement savings to a tax-free growth and tax-free withdrawal investment vehicle. However, one crucial factor that often gets overlooked in Roth conversions is market volatility. Volatility refers to the fluctuation i...

Are you planning on converting all of your IRA assets in one MEGA Conversion or do you plan to spread out your tax liability and optimize over a longer period of time? You can schedule an appointment with one of our Retirement Experts to look at your situation and help you plan for your future. Call us at (920) 544-0576 or go to It's no secret that the retirement tax system is quite complex. Between various tax hike zones like the Social Security Tax Torpedo and Capital Gain Bump Zones to penalties like IRMAA, navigating taxes in retirement is difficult. Given this, many retirees wonder if they should simply perform all of their Roth Conversions at once, doing a massive Roth Conversion. And this will be the simplest method, but is it the most optimal? In this video, we compare a large, one-time Roth Conversion vs. spreading that Roth Conversion schedule out. #RothConversion #OptimizeTaxes - - - - - - - - - - - - - - - - - - - - - Always remember, "You Don...

In 2023, you may be able to contribute up to $66,000 if you’re under 50 and $73,500 if you’re 50 or older to your Nvidia 401(k). You can fully leverage these limits by taking advantage of the Mega Backdoor Roth. This is a powerful benefit within your Nvidia 401(k). It allows you to contribute after-tax dollars and convert those dollars to Roth. ******. Questions for Saloni Gupta, CFP® SCHEDULE TIME ON HER CALENDAR: CONNECT on LinkedIn: ******. 00:00 Introduction 00:16 2023 NVIDIA 401(k) Contribution Limits 00:41 3 Reasons Why You Should Contribute to Your 401(k) 01:41 NVIDIA Mega Backdoor Roth 02:14 Mega Backdoor Roth Example 03:03 Mega Backdoor Roth Tax Benefits ****** Control your taxable income in retirement. The Mega Backdoor Roth is a way for high-income earners to utilize the benefits of a Roth. Within a Roth your money grows tax-free. These same dollars and the interest earned can be tax-free when accessed in retirement (59.5+ years old). Having additiona...

... ( read more ) LEARN MORE ABOUT: IRA Accounts CONVERT IRA TO GOLD: Gold IRA Account CONVERT IRA TO SILVER: Silver IRA Account REVEALED: Best Gold Backed IRA Avoiding Extra Taxes on Backdoor Roth Conversion Many high-income earners turn to a strategy called a Backdoor Roth Conversion to take advantage of the benefits of a Roth IRA. A Roth IRA allows for tax-free growth and tax-free withdrawals in retirement, making it an attractive option for those looking to diversify their retirement savings. However, there are potential pitfalls that can result in extra taxes if not properly executed. This article aims to highlight some of these pitfalls and provide guidance on how to avoid them. Firstly, it is important to understand the concept of a Backdoor Roth Conversion. This strategy is used by individuals who exceed the income limits for direct contributions to Roth IRAs. In a Backdoor Roth Conversion, the individual makes a non-deductible contribution to...

Secure 2.0 loves Roths! The new Secure 2.0 Act made many changes to the retirement landscape, a ton of which apply to Roth IRAs. We break down the latest Roth changes to hit retirement planning in 2023.... ( read more ) LEARN MORE ABOUT: IRA Accounts CONVERTING IRA TO GOLD: Gold IRA Account CONVERTING IRA TO SILVER: Silver IRA Account REVEALED: Best Gold Backed IRA Big Secure 2.0 Roth Changes: A Game-Changer in retirement planning retirement planning is a crucial aspect of life that requires careful consideration and strategic decisions. Over the years, individuals have relied on various retirement saving plans to secure their financial future, with traditional Roth IRA accounts being a popular choice. However, recent developments have brought about significant changes in the retirement planning landscape with the introduction of Big Secure 2.0 Roth Changes. What are these changes, and why are they considered a game-changer? Let's dive in. Bi...

In this video, we're going to discuss Roth Conversions. Roth Conversions are a game-changer for those looking to retire early. Roth Conversions allow you to convert your Roth IRA into a Traditional IRA, which will give you more flexibility when it comes to retirement planning . We'll discuss the benefits of Roth Conversions and how they can help you retire sooner! I'm not YOUR financial advisor. The content I share is broad, non-personalized, educational content around basic financial concepts. Speak with a professional who's familiar with your specific situation before making any financial decisions. Hire a Financial Advisor and Hire a CPA. www.pointwealthmanagement.com Industry regulations prohibit endorsements or testimonials for Point Wealth, LLC or any Investment Advisor Representative. Posts must refrain from recommending investment advisory services or providing testimonials for our firm, since they are strictly prohibited. Please understand that w...

In this episode of Adam Live, Adam Bergman, Esq., founder of IRA Financial, talks about the Build Back Better Act, which was passed by the House on Friday, has provisions related to retirement plans, specifically, IRAs. Adam will discuss strategies involving the Roth and whether or not you should consider a Roth conversion. Learn more about Roth conversions: About IRA Financial: IRA Financial Group was founded by Adam Bergman, a former tax and ERISA attorney who worked at some of the largest law firms. During his years of practice, he noticed that many of his clients were not even aware that they can use an IRA or 401(k) plan to make alternative asset investments, such as real estate. He created IRA Financial to help educate retirement account holders about the benefits of self-directed retirement plan solutions. IRA Financial Group is a retirement account facilitator, document filing, and do-it yourself document service, not a law firm. IRA Financial Group does not...

... ( read more ) LEARN MORE ABOUT: IRA Accounts CONVERT IRA TO GOLD: Gold IRA Account CONVERT IRA TO SILVER: Silver IRA Account REVEALED: Best Gold Backed IRA The Mega Backdoor Roth Strategy Explained - How to Get Around Roth Income Limits Roth IRAs are popular retirement vehicles due to their potential for tax-free growth and withdrawals. However, not everyone is able to contribute directly to a Roth IRA due to income limits set by the IRS. If you find yourself in this situation, don't despair! There's a strategy called the "Mega Backdoor Roth" that can help you circumvent these limitations and take advantage of the benefits of Roth IRAs. To understand the Mega Backdoor Roth strategy, it's important to have a basic understanding of the traditional backdoor Roth IRA. The backdoor Roth IRA involves making a non-deductible contribution to a Traditional IRA and then converting it to a Roth IRA. This strategy allows high-income indi...

How to avoid the pro rata rule when doing the Backdoor Roth conversion. ///////////////////////////////////////////////// Get answers FASTER... Join this channel to get access to perks: Chat on discord: Join Link Support on Patreon: Get IRS FORM W4 TAX WITHHOLDING HELP HERE STARTING AT $39. bit.ly/3FJ6w8U ----------------------------------------------------- Are you ready for professional investment advice? We can help you with financial planning and asset management. Let us guide your investments to your financial freedom. START HERE Our financial planning process is an ongoing relationship because as you grow, your financial plan grows with you. At Sickle Hunter Financial Advisors, we believe that saving and making sound financial decisions will help improve your life’s changing needs and objectives. Retirement, college planning, wealth building, social security, and career benefit packets are only a few of the financial decisions that you may face in your lifetim...

In this video, Josh Bennett, CFP®, shows how a backdoor roth conversion and a Regular roth conversion can save you money on your taxes as well as help keep you money intact for retirement. #whiteboardwednesday :) If you're interested in an INVESTMENT ADVISORY OR FINANCIAL PLANNING RELATIONSHIP - please consider Josh's affiliated company VINCERE WEALTH MANAGEMENT Https://Vincerewealth.com BOOKS I RECOMMEND: Let’s Connect! Instagram: @joshbennett_cfp LinkedIn: Twitter: Website: Https://mrmoneysense.com Https://Collegefundinghero.com Josh’s Affiliated Wealth Management Websites: Https://Vincerewealth.com Https://govincere.com *For Educational Purposes Only. No portion of this content should be construed as investment advice. No portion of this content should be construed as an offer or solicitation for the purchase or sale of any security. References to specific securities, investment programs or funds are for illustrative purposes only and are not ...

Here are 3 reasons why you should consider contributing to a non-deductible IRA. Have a question you want to be answered on the show? Call or text 574-222-2000 or leave a comment! Want to speak with a Certified Financial Planner™? Visit or call 574-247-5898. Find more information about the Wise Money Show™ at Be sure to stay up to date by following us! Facebook - ​ Instagram - Twitter - ​ Want more Wise Money™? Read our blog! ​ Listen on Podcast: ​ Subscribe on YouTube: Mike Bernard, CFP® offers advisory services through KFG Wealth Management, LLC dba Korhorn Financial Group. This information is for general financial education and is not intended to provide specific investment advice or recommendations. All investing and investment strategies involve risk including the potential loss of principal. Asset allocation & diversification do not ensure a profit or prevent a loss in a declining market. Past performance is not a guarantee of futur...